Analysts Set Tower Semiconductor Ltd. (TSEM) Target Price at $26.50

Tower Semiconductor Ltd. (NASDAQ:TSEM) has earned a consensus rating of “Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $26.50.

TSEM has been the subject of a number of recent analyst reports. Standpoint Research raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, August 28th. Jefferies Financial Group initiated coverage on shares of Tower Semiconductor in a research note on Tuesday, October 9th. They set a “buy” rating and a $30.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Tower Semiconductor in a research note on Monday, October 22nd. Craig Hallum set a $29.00 price objective on shares of Tower Semiconductor and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, BidaskClub cut shares of Tower Semiconductor from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Tower Semiconductor by 132,392.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 483,598 shares of the semiconductor company’s stock worth $10,644,000 after buying an additional 483,233 shares during the period. Menora Mivtachim Holdings LTD. lifted its stake in Tower Semiconductor by 31.1% in the second quarter. Menora Mivtachim Holdings LTD. now owns 1,263,313 shares of the semiconductor company’s stock worth $27,806,000 after acquiring an additional 300,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Tower Semiconductor by 23.4% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,389,886 shares of the semiconductor company’s stock worth $30,244,000 after acquiring an additional 263,833 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management lifted its stake in Tower Semiconductor by 40.6% in the third quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 692,211 shares of the semiconductor company’s stock worth $15,063,000 after acquiring an additional 200,000 shares during the period. Finally, Waters Parkerson & CO. LLC lifted its stake in Tower Semiconductor by 35.0% in the second quarter. Waters Parkerson & CO. LLC now owns 695,100 shares of the semiconductor company’s stock worth $15,299,000 after acquiring an additional 180,365 shares during the period. Hedge funds and other institutional investors own 46.65% of the company’s stock.

TSEM traded up $0.19 during trading hours on Wednesday, reaching $15.80. 342,800 shares of the company’s stock traded hands, compared to its average volume of 690,182. Tower Semiconductor has a 52-week low of $13.87 and a 52-week high of $36.69. The company has a quick ratio of 3.27, a current ratio of 3.93 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.61 billion, a P/E ratio of 7.15, a PEG ratio of 1.05 and a beta of 1.44.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Monday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Tower Semiconductor had a net margin of 18.43% and a return on equity of 15.82%. The business had revenue of $322.60 million for the quarter, compared to analysts’ expectations of $335.05 million. During the same quarter in the previous year, the firm earned $0.59 EPS. Tower Semiconductor’s revenue was down 9.0% compared to the same quarter last year. Equities analysts anticipate that Tower Semiconductor will post 1.56 EPS for the current fiscal year.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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